Chapter 4 Flashcards
What is Marketing environment?
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
What is microenvironment?
The actors close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
What is macroenvironment?
The larger societal forces that affect the microenvironment - demographic, economic, natural, technological, political, and cultural forces.
What are marketing intermediaries?
Firms that help the company to promote, sell, and distribute its goods to final buyers.
Define public.
Any group that has an actual or potential interest in or impact on organization’s ability to achieve its objectives.
List seven types of publics?
Financial public: Banks, investment analysts, and stockholders.
Media publics: TV, newspapers, magazines, blogs, and social media.
Government publics
Citizen action groups: consumer groups, environmental groups, minority groups, and others.
Local public: neighborhood residents and community organizations.
What is demography?
The study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics.
Describe baby boomers and their characteristics.
The 9.8 million Canadians born between 1947 and 1966.
Wealthies generation in history
Being one-third of the population, control more than 50 percent of disposable income
Describe Generation X and their characteristics.
The 7 million Canadians born between 1967 and 1976.
Less materialistic than other groups, prize experience not acquisition.
Tend to research the products
Prefer quality over quantity
Less receptive to overt marketing pitches
More likely to be receptive to irreverent ad pitches that make fun of convention and tradition
The first generation to grow up in the internet era
Describe Millennials and their characteristics.
The 10.4 million children of baby boomers born between 1977 and 2000.
Comfortable with technology
Engage with brands in entirely new ways, such as mobile and social media
Describe Generation Z and their characteristics.
People born after 2000 (although many analysts include people born after 1995)
Fluent and comfortable with technology
Blend online and offline seamlessly as they socialize and shop
More than a half prefer to shop online
What are the major demographic trends in Canada?
Changing Canadian households: More young adults living with their parents, fewer children, more non-traditional family structures, more women in the workforce.
Geographic shifts: 4.5 growth nationally, Alberta, Manitoba, Saskatchewan, Yukon, and Nunavut are above the average in growth, more people living in the suburbs and more telecommuting.
Better Educated, more white-collar professional population
More diverse population.
What is economic environment?
Economic factors that affect consumer purchasing power and spending patterns.
What are some economic trends?
Change in consumer spending: consumers are buying less and looking for greater value. Income distribution: Rich are getting richer, poorer getting poorer and middle-class incomes are stagnating.
What is a natural environment?
The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
